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on the fiscal cliff which means the u.s. economy does not dip into recession. we continue to grow profits, grow jobs, grow income. by extension that ought to be pretty good for equity markets. >> susie: one thing that is is worrying a lot of investors right now is there's going to be an increase in capital gains and dividends taxes so they're wondering between now and the end of the year, maybe they should take profits and some of their, you know, in their portfolio. what do you say to that? does that make sense? >> i don't think alone it does. what we generally tell people is don't let tax policy be the overwhelming decision in terms of your portfolio. obviously you set your portfolio in place because you have return and investment goals. that's really what you need to be focused in on. tax rates change all the time. but that's not the key variable. keep focusing on what your investment goals are and how you can get there. >> susie: i'd like to go over with you the asset allocation you've been recommending for your clients as they position their portfolios for the new year 2013. you're recomme
in the next couple of weeks, but the fiscal cliff is out there. the fiscal cliff for the consumer is the worst thing that has happened since paris hilton released her debut music album, and there is not a lot of hope for congress to resolve anything. >> but consumer confidence is at a file year high so it must translate into opening of the wallets? >>guest: that is a fair point but if you look at the most recent consumer sentiment survey, you talk about future expectations, they are lower when than the last few months, and the lower expectations are because of the fiscal cliff and because of the uncertainty that, althoughs in 2013. >> were you out there today? >>guest: i was. i was spending money trying to keep the economy going. also, buying all deals. i was not trading up to the high priced stuff. not yet. >> out are to have fun. thank you. so, another republican dixing a no tax hike pledge. does that mean tax hikes are coming? with verizon. hurry in this friday for great deals. like the droid razr by motorola in cranberry, free. or a white 7-inch samsung galaxy tab 2, just $99.99. this frid
a nightclub on wheels that could be in the tracks next. tracy: a string of companies on the fiscal cliff, haven't heard from a very important sector of the economy. on a really rare move, walmart, walgreen's, publicly into the fiscal clip battle and they are not holding back on what thhy think of washington. dave: liz macdonald never holds back. liz: it is surprising. you heard from the usual suspects, council on economic recovery and the like. walmart is saying our customers don't need the uncertainty over tax increases. cbs in in -- pointed language, our hard-working families, customers, they are making decisions on their own budgets and their confidence has already been tested, they are facing persistent high unemployment, fragile economic growth. our customers want to know that d.c. is working on their behalf and look at what walgreen's is saying. the top executive saying our customers's health care needs are met by walgreen's. we have to avoid the fiscal cliff. it is critical, it is 50. we need also for us as a business to have fiscal clarity so we can make the investment to create
recession. >> absolutely. so the fiscal cliff is a contraction in the government imposed into the economy of 45% of gdp. on the first order that will hit and reduce economic growth from 2 percent down some-1,-2 very easily. lou: in your judgment would be helpful, profoundly helpful for congress and this president to agree that there will leave everything, create a status quo for negotiations on a reform of the tax code that would take place over the course of six to nine months next year and hold in abeyance any changes just simply stopping, for the first time in some time ever, congress and our president actually think through public policy. >> absolutely. tax-cut reform on the one hand, and salomon reform on the other. if congress and the president move in that direction it would be a very, very positive signal that the political process is actually functioning. lou: a real quickly, we're out of time. some symbols, reasonable template. >> i think it is. lou: thank you for being here. president obama's reelection reigniting the debate about illegal immigration. what a republican ship on
-called fiscal cliff, and they're not holding back. elizabeth macdonald is with the fox business network. okay, liz, so who are these corporations, and what exactly are they saying? >> good to be with you, arthel. it's walmart, cvs and wall greens. walmart or is basically saying, look, customers don't need the uncertainty over tax increases, and let's get to cvs caremark because these two drug store chains are basically making rare public policy statements that we've never seen before from these companies. they're urging washington to avoid the fiscal cliff. cvs caremark is essentially saying, look, our customers are hard working american families, they make decisions on the budget. they've been faced with, basically, persistent high unemployment, fragile economic growth, and they want to know that d.c. is working on their behalf. so and that was also the same sentiment that you heard out of walgreens. walgreens also saying, basically, the health of the u.s. economy, the recovery and american families depends on a consensus agreement in washington, d.c. to avoid the fiscal cliff, and walgreens
strategy pay off for retailers? will concerns about the sluggish economy and the fiscal cliff keep consumers home? all questions we seek answers to. >> let's get some answers. cnbc contributor stacy liblet at queens center mall here in new york city. we also have liz dunn of mcquarry capital on the west coast in san francisco. great to have you all with us. laura, why don't i get to you first of all. what are you seeing out there on the floor of the malls? >> so traffic's slowing a little bit which is normal for the afternoon. i think that most of the traffic -- most of the big buys were for electronics and toys. those happened last night. they may be happening online more and more. but the mall's bit slow, we think, relative to a year ago. >> do you think people came in earlier with all of these earlier openings that we've been hearing about? do you feel maybe that's just drifted off a little bit as everyone's now done their shopping and gone loam to bed? >> i'm pretty sure that that is what has happened here. you don't normally see -- this is an urban mall in queens. i would not
uncertain because of the fiscal cliff will it be the discounter or the luxury retailer? >> that is the question we are asking our two guests. eddie roomer from key bank capital markets and eric vito. gentlemen, great to have you on the show today. eric, how do i play black friday and the future holiday season? >> if you look at it this is a bargain-driven season. i think the people taking advantages are the players with the best discounts. they did take advantage of lower raw material costs to lower pricing here. when you look at this, you get aggress erv, names like aeropostal and a company like new york and coach, spending two years on figuring out how to discount right. >> ed, how do the lux injure are retailers do? >> clearly this is the morning for the value price retailers action though we saw tremendous traffic at nordstrom. frankly the store was jammed. we thinks companies like nordstrom are well positioned. >> who is not well positioned. >> it kind of levels of expectations here. retailing world has to prices here by look who doesn't have that right now, some o
an economy killer and market bust. why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happen. i think there will be a deal struck here, eac side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we are blowing iup -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good long-term effects for the economy. gerri: you picked up something interesting out of ben bernanke at statement about banks being o tight with their lending. what did you make of that? >> it is very interesting because ben bernanke is talking about the unwillingness of banks to lend more noncredit were the people and the problem i have with that is banks are having to do that because ben bernanke has killed the bank model and if you look back at banks and how they make money they borrow on the short end meaning they borrow at the low end of ierest rates and blended out on a
't. >> that also has as everyone knows with the looming so-called fiscal cliff discussion, if you cut too muchu you also drive the economy into an abyss so, you know, we'd all like to say we cut spending and live within our means, but it's not as simple as that.ple you can also cut spending too much so that you actually hurtrt the economy you're supposed to help. melissa: so, i agree with whath you are saying, and this is too civil. i got to derail it somehow or else it's no fun; right?in what's the point in doing it. >> bring it on, melissa, bring it on. do melissa: there's many times in the past where we've loweredn mortgagal rates and increased if i we to conceive it's a revenue problem, it -- which i'm not going to, but for the sake of argument, under for kennedy, reduced the top rate from 90% to 70%, in and in that time, revenue into the treasury went up from $94 billion to $15n billion by lowering the marginal rate. right there, there's your guy. look at him. >> you know, we can look at that, but, remember, that was i the 1960s #. the problems we have today are a
about the u.s. economy. a big discussion many ceos are telling us the fiscal cliff isn't passing uncertainty, makes them nervous. what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in washington is focused -- we know who's going to be running the country and who is going to be running the house. now that that is behind us everyone can focus on reaching across the aisle and compromise and have to make progress on this fiscal cliff. i think that is important for business right now. the consumer has not focused on this but they will if we don't address it. i am confident we are going to address it in the next few weeks. cheryl: you are director of the n
on the fiscal cliff will be undermining the economy. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- "i'm done. i'm out of here." you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ ♪ >> welcome >>> welcome back. let's get back to our guest host for the last word. you have had a bit of news coming across your blackberry. >> walmart says they had the best black friday ever with the most traffic, stronger than it was last year. the early promotions drove business. i've got around 20 channel checkers around the country from our firm. we see over 200 stores with slower traffic than last year. where the traffic is, where the deals are. >> why put this up before 9:00 in the morning? you haven't been able to measure what's happened. >> we haven't seen a release like this from walmart ever. >> it makes me wonder about the protests that are
the debt that threatens our children's future. >> if a deal is not reached on the fiscal cliff tax cuts will expire on january 1st. back to black friday. unfortunately fights already breaking out. this was the scene in indianapolis a few hours ago. police were called in to break up fights. shoppers waited in line to receive vouchers for plasma tvs and learned that some of the people were selling vouchers for profit. and right now, we are going to go with waga who is live with more. good morning and tell us what is happening there and what the scene is like? >> well, no fights here, i can tell you that. a lot of folks having a good time and spending money. we are in the mall ofia and which is the largest mall in the state of georgia and largest mall in the southeast. it opened up at midnight. and few years ago we used to come up here and cover the place and then it moved to four o'clock a.m. and now midnight. they are trying to compete with the big boxes that are opening up earlier and thingings are crowded now, it is it nothing compared to what it was like in midnight they are brought o
don't work. >> and negotiate a pragmatic deal on the fiscal cliff put yourself in a hole you won't get out. >> and what's the prague matism, prime minister is claiming. >> 4-1 tax spending cuts. >> i haven't heard that. >> i think that's what he's going to come up with. >> and they go back to the clinton tax rates and it's not going to solve anything. and as if to say. >> the other part, you have to take out spending and entitlements, he didn't do it, i'll grant you that, didn't do it because he was trying to contact the base on the left and-- >> and no, no, i said to win the election. as a president he's going to govern, you watch much more centrist and if the republicans don't set the table, this'll look at whacko right wing. >> they have been at the table. >> my gut is he's going to be a centrist and they'll get a deal. >> there you have it right here. coming up, does the tea party play an effective role in this year's election. that's ahead. ♪ ♪ >> welcome back, everybody. less than three weeks since the election and it's divide not between democrats and republicans, however,
consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so
in a tough time, that you've got to have revenues make the kinds of investments that grow the economy and prepare for success. i do think i can offer those insights. >> woodruff: when you talk about the fiscal cliff are the deadline is supposed to be january 1, but you've been out there talking about what can be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in reven
Search Results 0 to 18 of about 19 (some duplicates have been removed)